Principal Financial Group Inc. Sells 13,949 Shares of Atea Pharmaceuticals, Inc. (NASDAQ:AVIR)

Principal Financial Group Inc. decreased its stake in shares of Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) by 55.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 11,425 shares of the company’s stock after selling 13,949 shares during the quarter. Principal Financial Group Inc.’s holdings in Atea Pharmaceuticals were worth $38,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also modified their holdings of the company. RPO LLC bought a new stake in Atea Pharmaceuticals in the fourth quarter valued at $39,000. Sunpointe LLC acquired a new stake in Atea Pharmaceuticals during the 4th quarter worth $36,000. BML Capital Management LLC grew its position in shares of Atea Pharmaceuticals by 1.4% during the 1st quarter. BML Capital Management LLC now owns 5,536,710 shares of the company’s stock worth $22,368,000 after buying an additional 74,631 shares during the period. China Universal Asset Management Co. Ltd. grew its holdings in shares of Atea Pharmaceuticals by 67.6% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 16,179 shares of the company’s stock valued at $65,000 after buying an additional 6,526 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Atea Pharmaceuticals in the first quarter worth about $123,000. 86.67% of the stock is currently owned by institutional investors.

Insider Activity at Atea Pharmaceuticals

In other Atea Pharmaceuticals news, Director Bruce Polsky sold 17,544 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $3.49, for a total value of $61,228.56. Following the completion of the transaction, the director now directly owns 65,606 shares of the company’s stock, valued at approximately $228,964.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 17.80% of the stock is owned by company insiders.

Atea Pharmaceuticals Trading Up 0.5 %

Shares of AVIR opened at $3.89 on Tuesday. The company has a market capitalization of $327.63 million, a PE ratio of -1.98 and a beta of 0.18. The stock’s 50-day moving average price is $3.67 and its two-hundred day moving average price is $3.73. Atea Pharmaceuticals, Inc. has a 12 month low of $2.77 and a 12 month high of $4.60.

Atea Pharmaceuticals (NASDAQ:AVIR) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.48) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.76) by $0.28. During the same quarter last year, the company posted ($0.34) earnings per share. Equities research analysts predict that Atea Pharmaceuticals, Inc. will post -2.55 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. William Blair raised shares of Atea Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 30th. Morgan Stanley upgraded Atea Pharmaceuticals from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $2.00 to $6.88 in a research report on Tuesday, August 13th.

Atea Pharmaceuticals Company Profile

Atea Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, discovers, develops, and commercializes antiviral therapeutics for patients with viral infections. Its lead product candidate is AT-527, an oral antiviral candidate that is in Phase 3 SUNRISE-3 clinical trial for the treatment of patients with COVID-19.